X down: U.S. Steel stock falls 7% after President Joe Biden blocks takeover by Japanese giant Nippon Steel

By Yahoo! Finance   |   2 months ago
X down: U.S. Steel stock falls 7% after President Joe Biden blocks takeover by Japanese giant Nippon Steel

President Biden blocked a $15 billion takeover bid of U.S. Steel by Japan's Nippon Steel, citing national security concerns. This move was criticized by the companies but supported by the United Steelworkers International President. The decision reflects the ongoing struggle of the American steel industry against unfair trade practices.

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